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May 12, 2008 09:36 AM Eastern Daylight Time
LAN CARGO Announces Plans for New Cargo Operations in Colombia
SANTIAGO, Chile--(
BUSINESS WIRE)--LAN CARGO S.A. (“LAN Cargo”), cargo subsidiary of LAN Airlines S.A. (“LAN” or “the Company”) (NYSE: LFL)(IPSA: LAN), today announced that on May 9, 2008 it presented to the Colombian aviation authorities a formal proposal for the creation of a new cargo airline in that country. LAN CARGO’s proposal is subject to the approval of the Colombian and other governmental authorities and, if approved, LAN CARGO will have a period of 12 months to launch its subsidiary’s operations.
Colombia is currently the largest air cargo market in Latin America in terms of exports to the United States, with an estimated volume of 200 thousand tons annually. Through the launch of an affiliate company in Colombia, LAN CARGO will be able to contribute significantly to the development of this important market. The establishment of a subsidiary in Colombia will allow LAN CARGO to integrate the country to its broad network of routes within the region, also providing connectivity to the United States and Europe with its modern fleet of Boeing 767-300F freighter aircraft.
LAN CARGO currently has cargo affiliates in Brazil and Mexico and operates a network that covers approximately 75 destinations worldwide. “The creation of this new subsidiary furthers the consolidation of our cargo network, effectively connecting the main productive centers and markets in the region, while reaffirming our objective of uniting Latin America with the rest of the world,” stated Cristian Ureta, CEO of LAN CARGO.
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